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Refer the following table. 2018 $ 25 37 189 Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $
Refer the following table. 2018 $ 25 37 189 Airspace Technologies Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 62 $ 13 Accounts receivable (net) 111 Inventory 229 Prepaid rent 73 Plant and equipment (net) 730 Accounts payable Accrued liabilities Income tax payable Preferred shares Common shares Retained earnings 599 817 2019 Airspace Technologies Inc. Income Statement For Year Ended November 30 (millions of $) 2eze Net sales $1,220 $1.884 Cost of goods sold 461389 Gross profit $ 759 $615 Operating expenses: Depreciation expense $ 50 $ 50 Other expenses 482 326 Total operating expenses Profit from operations $ 227 $ 239 Interest expense 19 Income tax expense 26 28 Profit $ 182 $ 202 - 376 Required: Calculate Airspace's liquidity and efficiency ratlos for 2020 and 2019. (Round the final answers to 2 decimal places. Use 365 days a year) Ratio 2020 2019 times days Current ratio Quick ratio Accounts receivable turnover Days' sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover days times times Analysis Component: Identify whether the change in each ratio from 2019 to 2020 was favourable or unfavourable. Ratio Favourable! Unfavourable Current ratio Quick ratio Accounts receivable turnover Days sales uncollected Inventory turnover Days' sales in inventory Total asset turnover Accounts payable turnover
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